10 things before the opening bell

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10 things before the opening bell
Tesla CEO Elon Musk in Germany on Friday. Patrick Pleul/Pool via Reuters

Welcome to 10 Things Before the Opening Bell.

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Tesla continues to smash records. Tesla's stock skyrocketed double digits to new all-time highs after Hertz ordered 100,000 Model 3 vehicles. The EV innovator hit a $1 trillion valuation in the process, becoming the second-fastest company to do so.

Once Hertz receives the vehicles in 2022, it will operate the largest EV rental fleet in the world. Meanwhile, the $4.2 billion the car-rental giant paid for the vehicles suggested Tesla offered few, if any, discounts.

What else to know:

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  • Shares of Tesla closed 13% higher at $1,024.86 per share. The stock's intraday high was $1,045.02, or 15% above Friday's close.
  • The deal comes as automakers broadly grapple with a chip shortage stemming from international supply-chain woes.
  • Facebook, which was the first company to hit a $1 trillion valuation, reported mixed 3rd-quarter earnings on Monday afternoon. The social-media platform missed revenue estimates, beat on EPS, and matched daily-average-user forecasts.

2. Global shares are on the up. Optimism around earnings and a lift to the tech sector from Tesla's burst above $1,000 are behind the move. Take a look at what's going on today.

3. Jefferies shared its stock picks for investors looking to profit from one of the hottest trades of the last bull market. Momentum investing worked before, and one strategist thinks it's set for a comeback. See his list of 20 stocks set to surge.

4. Earnings on deck: Alphabet, Microsoft, and Twitter, all reporting.

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5. Federal judges may not be trading as freely for much longer. Proposed legislation in Washington could put US judges under tighter stock-trading rules. The bill follows a WSJ report that showed judges violated stock-related laws while hearing court cases.

6. JPMorgan says the red-hot new bitcoin ETF could get too big for its own good. The firm notes that as the fund gains in popularity, the higher so-called carry costs go. Read the full rundown of how the fund's growth could warp the futures market.

7. Mastercard is getting in on the crypto wave. The payment giant will allow US merchants and banks to bring crypto products onto its network. More consumers, according to Mastercard, seek to use crypto assets for everyday purchases.

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8. Donald Trump could soon be richer than ever after his SPAC merger. The former president is reportedly set to own 58% of a post-merger entity called Trump Media & Technology Group. That means Trump and his partners will command a $4.8 billion stake.

9. Meme stock watch list: Remark and Phunware joined the club after massive surges, while Reddit darlings GameStop and AMC fell out of favor. Here are the top 11 meme stocks this week.

10. A crypto strategist broke down why further bitcoin-futures ETFs will bring negative yields. Christopher Vecchio said the launch of the ProShares Bitcoin Strategy ETF (BITO) is more of a positive sign for crypto going mainstream than a good investment option. He says you could be better off buying bitcoin directly.

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Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.

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